Tuesday, January 28, 2020

29 January 2020 BMD

We are expanding to global markets. See next article for the trade plan.

LOCAL MARKET

Our trade results are posted in our FB page. Click link below to access:-
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FKLI

FKLI opened gap down after the Chinese New Year holidays as the corona-virus outbreak is creating havoc in the whole world whereby the death toll is now risen to 132 cases in China.

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Plan A : Continue to hold short as long as market does not surge above 1554. Cut above 1558.
Plan B : Targets are 1551, 1547.5 and 1544.
Plan C : Consider to long only if FKLI rebounds from 1550. Cut below 1546.5.
Plan D :Targets are 1553.5, 1557 and 1560.



FCPO

FCPO gap-up at opening erasing the losses made yesterday, market later stabilize above 2700's. Soybean oil is lying at positive territories while Ringgit stays at RM4.07 against the greenback.

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Plan A : Short if market failed to support around 2731. Targets are 2710 and 2685.
Plan B : Long if market retraced but supported firm above 2653. Targets are 2678 and 2701.


Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.

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